Ciena: AI Investments as Drivers for a New Margin Level by 2029 - Rosenblatt Confirms Buy Recommendation with Target Price at $525
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The business model of Ciena Corp. (CIEN) benefits from increasing demand for optical networks driven by the ongoing expansion of AI. Analyst Mike Genovese sets a target price of $525 and also expects positive market effects for competitor Nokia. The company aims for an annual revenue growth rate of 30% by 2029, with an adjusted gross margin of 50%. Network Equipment in the Focus of AI Expansion Ciena Corp. (CIEN) focuses on optical networking systems, telecommunications equipment, and software services for automation. The company's core...
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